Litecoin’s official X account was hacked today. The compromised account was used to promote a fraudulent “Solana-based” token disguised as Litecoin.
What Happened During the Litecoin X Hack?
The unauthorized post included a Solana contract address for the counterfeit Litecoin token shares the same LTC ticker as Litecoin.
According to DEXscreener data, this ruse briefly drove the fake token’s market cap to $27,000 before it nosedived under $3,400.
Afterward, a swift removal of the malicious tweet helped limit potential losses, but not before causing a stir among Litecoin’s 1.1 million followers.
This tactic is part of a recent trend in which hackers exploit the reputation of established cryptocurrencies. In doing so, they are more likely to lure unsuspecting investors based on trust for more prominent tokens.
In December, the Cardano Foundation’s X account was the victim of a similar attack, spreading false information about a nonexistent SEC lawsuit.
Blockchain investigator ZachXBT shed light on the scale of these attacks. Between late November and December, a single threat actor amassed roughly $500,000 through meme coin scams launched via over 15 compromised X accounts.
Protecting Your Assets
The Litecoin X hack serves as a reminder that security must always be a top priority in the cryptocurrency space. By applying smart security measures, traders can better protect themselves from similar threats in the future.
Litecoin has since commented on the matter, acknowledging the brief compromise of their X account and the unauthorized posts. They stated that the posts were live for only seconds before being deleted.
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